The Hartford Financial Services Group (NYSE:HIG) PT Raised to $113.00 at Citigroup

The Hartford Financial Services Group (NYSE:HIG) had its price objective lifted by Citigroup from $109.00 to $113.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other research analysts have also recently commented on the company. Piper Sandler reaffirmed an overweight rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. JPMorgan Chase & Co. lifted their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Morgan Stanley raised their price target on shares of The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Finally, Royal Bank of Canada boosted their price objective on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a sector perform rating in a research report on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $105.56.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $98.95 on Tuesday. The business’s 50 day moving average price is $97.80 and its 200-day moving average price is $85.25. The Hartford Financial Services Group has a fifty-two week low of $67.05 and a fifty-two week high of $103.64. The company has a market cap of $29.42 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.35 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 6.4% compared to the same quarter last year. Sell-side analysts predict that The Hartford Financial Services Group will post 10.13 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.90%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 23.53%.

Insiders Place Their Bets

In other news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 956 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the transaction, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,635,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,264 shares of company stock valued at $18,438,369. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Hedge funds have recently made changes to their positions in the company. GoalVest Advisory LLC grew its stake in The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth about $26,000. CVA Family Office LLC purchased a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $27,000. Chilton Capital Management LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $28,000. Finally, Selway Asset Management purchased a new position in The Hartford Financial Services Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.